SPX - Bullish until 2350

Hey guys, this is rare and something I have yet to see before in my 10 years of studying the markets.

Usually, the USD strengthens and the stock market drops.

This is the only time where I see the stock market go up together with the USD.

I am hoping the bullishness in the stock market will be short lived, I hope the market will drop so that we are able to buy low on quality stocks.

For those trading the indices, my bias is still bullish on SPX until it hits 2350.

At 2350, the deep crab pattern completes on the weekly chart and we might see a correction.

This is not a call to short it but more like DO NOT SHORT S&P before it hits 2350.

We will monitor for reversal clues off 2350 before we consider whether to go short on the index.

Good luck guys!

Comment:

I made a mistake. This is the correct deep crab. The one previously posted was a shark then became invalidated.

This is the correct deep crab also completing at 2350.

Trade closed: target reached:

After 2 months, 2350 reached! But remember not to go short yet, I will reveal my criteria that needs to be met before any shorts will be initiated